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Tuesday, March 13, 2012

Top 10 Most Educated Countries in the World

In the past 50 years, college graduation rates in developed countries have increased nearly 200%, according to Education at a Glance 2011, a recently published report by the Organization for Economic Co-operation and Development ( OECD ). The report shows that while education has improved across the board, it has not improved evenly, with some countries enjoying much greater rates of educational attainment than others. The countries with the most highly educated citizens are also some of the wealthiest in the world. All these countries aggressively invest in education. Based on the report, 24/7 Wall St. identified the 10 developed countries with the most educated populations. Now take a look at these countries one by one...

Finland is a small country relative to the other OECD members. The share of its adult population with some sort of post secondary education, however, is rather large. This select group is reaching the end of its expansion. From 1999 to 2009, the number of college-educated adults increased only 1.8% annually the third-smallest amount among all OECD countries . Finland is also one of only two countries, the other being Korea, in which the fields of social sciences, business and law are not the most popular among students. In Finland, new entrants are most likely to study engineering, manufacturing and construction.

Australia's population grew 14.63% between 2000 and 2009. This is the third-largest increase among OECD countries . Its tertiary-educated adult population is increasing at the much less impressive annual rate of 3.3%. Australia also spends the sixth-least amount in public funds on education as a percentage of all expenditures. The country also draws large numbers of international students.

Unlike most of the countries with the highest percentage of educated adults, the UK's educated group increased measurably more than 4% between 1999 and 2009. Its entire population only grew 3.5% between 2000 and 2009. One aspect that the UK does share with a number of other countries on this list is relatively low public expenditure on education institutions as a percentage of all educational spending. As of 2008, 69.5% of spending came from public sources the fourth-smallest amount among OECD countries .

Norway has the third-greatest expenditure on educational institutions as a percentage of GDP, at 7.3%. Roughly 23% of that is spent on tertiary education . In Norway, more than 60% of all tertiary graduates were in a bachelors program, well more than the U.S., which is close to the OECD average of 45%. The country is one of the wealthiest in the world. GDP per capita is $56,617, second only to Luxembourg in the OECD.

Korea is another standout country for its recent increase in the percentage of its population that has a tertiary education. Graduates increased 5.3% between 1999 and 2009, the fifth-highest among OECD countries . Like the UK, this rate is greater than the countrys recent population growth. Korea is also one of only two countries the other being Finland in which the most popular fields of study are not social sciences, business and law. In Korea, new students choose to study education, humanities and arts at the greatest rates. Only 59.6% of expenditures on educational institutions come from public funds the second-lowest rate.

New Zealand is not a particularly wealthy country. GDP per capita is less than $30,000, and is the 14th lowest in the OECD. However, 40% of the population engages in tertiary education, the fifth-highest rate in the world. The country actually has a rapidly growing population, increasing 11.88% between 2000 and 2009. This was the eighth-largest increase in the OECD. Part of the reason for the high rate of tertiary graduates is the high output from secondary schools. More than 90% of residents graduate from secondary school.

The U.S. experienced a fairly large growth in population from 2000 to 2009. During the period, the population increased 8.68% the 12th highest among OECD countries. Meanwhile, the rate at which the share of the population with a tertiary education is growing has slowed to an annual rate of 1.4% the lowest among the 34 OECD countries. Just 71% of funding for educational institutions in the country comes from public funds, placing the U.S. sixth-lowest in this measure. Among OECD countries, the largest share of adults with a tertiary education live in the United States 25.8%.

In Japan, 44% of the adult population has some form of tertiary education. The U.S. by comparison has a rate of 41%. Japans population increased just 0.46% between 2000 and 2009, the sixth-slowest growth rate in the OECD, and the slowest among our list of 10. Japan is tied with Finland for the third-highest upper-secondary graduation rate in the world, at 95%. It has the third-highest tertiary graduation rate in the world, but only spends the equivalent of 1.5% of GDP on tertiary education the 17th lowest rate in the OECD.

Although there is no data on the percentage of Israeli citizens with post secondary education dating back to 1999, the numbers going back to 2002 show that growth is slowing dramatically compared to other countries. In fact, in 2006, 46% of adults ages 25 to 64 had a tertiary education. In 2007 this number fell to 44%. Only 78% of funds spent on educational institutions in Israel are public funds. The country is also only one of three the other two being Ireland and Sweden where expenditure on educational institutions as a proportion of GDP decreased from 2000 to 2008. Israel also had the largest increase in overall population, approximately 19% from 2000 to 2009.

In Canada, 50% of the adult population has completed tertiary education, easily the highest rate in the OECD. Each year, public and private expenditure on education amount to 2.5% of GDP, the fourth-highest rate in the world. Tertiary education spending accounts for 41% of total education spending in the country. In the U.S., the proportion is closer to 37%. In Israel, the rate is 22%. In Canada, nearly 25% of students have an immigrant background.